The Minister of Finance welcomes the increase in the standard of living of Mauritians which, he says, goes hand in hand with robust growth. He believes that the government has improved the purchasing power of workers.

In recent years, Mauritians have become wealthier than ever before. This is what the Minister of Finance, Renganaden Padayachy, suggests during his summary of the debates, Tuesday in Parliament, on the Supplementary Appropriation (2023-2024) Act 2024 which allocates Rs 6.7 billion to complete the budget year which ends this June 30.

This additional sum is necessary, according to the Minister of Finance, to finance decisions taken by the government during the current financial year (see table). “It is obvious that these additional credits are voted and used wisely,” says Renganaden Padayachy. “In 2023, we granted monthly salary compensation of Rs 1,000 to all employees, while the inflation rate was already starting to decline. This year we went further. We have granted even higher salary compensation, ranging from Rs 1,500 to Rs 2,000, from January 2024. And this, while the inflation rate in 2024 will continue to fall to gradually approach the targeted range. , he adds.

Renganaden Padayachy recalls that the government has put in place “significant financial support” for the poorest households and the middle class, such as the CSG Income Allowance. “From July 2023, we have increased it from Rs 1,000 to Rs 2,000 for those earning up to Rs 25,000 per month. In total, we have increased the guaranteed minimum income to Rs 18,500 from January 2024.” And added that “this represents an increase of more than 50% in the guaranteed minimum income, which goes from Rs 12,075 paid before June 2023 at Rs 18,500. In doing so, we have significantly improved the purchasing power and standard of living of our workers.”

Citing Statistics Mauritius, the Minister of Finance highlights that the average monthly income of Mauritian households increased by 51.1% between 2017 and 2023 to reach Rs 55,600. The proportion of households earning less than Rs 25,000 per month has , decreased from 43% in 2017 to 19.6% in 2023.

“This is an unprecedented increase in living standards. And this leveling up went hand in hand with robust growth of 7% and a steadily falling unemployment rate to 6.1% last year. We ensure that basic needs, for food, housing, healthcare and education, are ensured and that new aspirations are transformed into a reality,” he maintains.

Expenditures for the 2023-24 financial year

ExpensesAmount (in Rs millions)
Rodrigues Regional AssemblyRs 277 million
Salary compensation granted in JanuaryRs 2.7 billion
Compensation to Patel EngineeringRs 1.89 billion
Salary increase for MRA officersRs 600 million
Double pay to civil servants (Health)Rs 1.4 billion
Salary compensation for civil servantsRs 2.7 billion
Injection into MauBankRs 500 million
CGS Income AllowanceRs 450 million
Other unforeseen items

Leave a reply below

Your email address will not be published. Required fields are marked *


[wpdreams_ajaxsearchpro id=2]

This will close in 0 seconds


Contact Business

Captcha Code